Hi there, everyone! Welcome back to my blog. I’m Marie Walton, a dedicated REALTOR® from Ebby Halliday, REALTORS, and today I’m excited to bring you an exclusive market update for Richardson, Texas in August 2023. Whether you’re a buyer or seller, this update is tailored just for you. So, let’s dive right in!

First, let’s talk about the supply of inventory. Currently, we have a 1.89 Months Supply of Inventory. What does that mean? Well, it indicates how long it would take for all the homes on the market to be sold if no new listings were added. This number gives us a snapshot of the market’s competitiveness, and right now, it’s showing a balanced market – neither favoring buyers nor sellers.

Looking at the trend over the last 12 months, we’ve seen a slight increase of 1.61% in the Months Supply of Inventory. This means we’ve had a gradual shift towards a more buyer-friendly market. However, it’s important to note that this increase is still within a healthy range, ensuring stability in the market.

Now, let’s discuss the List to Sold Price percentage. Currently, homes in Richardson are selling at an impressive 99.4% of their listing price. This high percentage indicates that sellers are able to secure a substantial portion of their asking price. So, if you’re a seller, this is great news for you!

Moving on to the median days on market, we’re seeing an average of just 17 days. That’s right, folks – homes in Richardson are selling quickly! This statistic is a testament to the thriving demand for properties in our wonderful city. So, if you’re a seller looking to make a move, now might be the perfect time to jump in.

Marie Walton: Finally, let’s talk about the median sold price in Richardson. Currently, it stands at a strong $465,000. This figure represents the middle point of all the homes sold in our city, indicating a healthy and robust market. Whether you’re a buyer or seller, it’s crucial to be aware of this median price as it sets a benchmark for your real estate decisions.

And there you have it – a comprehensive market update for Richardson, Texas in August 2023. As always, if you have any questions or need assistance with your real estate journey, feel free to reach out to me directly. I’m here to help you navigate the ever-changing market dynamics and achieve your real estate goals.

Thanks for dropping in. Take care!